IAG finally seals purchase of Air Europa for 500 million.

IAG, the business group to which the Spanish airline Iberia belongs, has finally signed the purchase of its competitor Air Europa for 500 million euros, more than a year after both agreed to buy and sell for twice the final price of the operation, which will be paid in 2026.

See also: IATA: Airlines need additional $80 billion to survive.

As confirmed to EFE by sources familiar with the operation, IAG and Air Europa have already signed the sale, an operation that has been delayed for more than a year due to the outbreak of the pandemic, which has turned the tourism sector.

The signing of the agreement takes place after the rescue fund for strategically solvent enterprises affected by the pandemic, managed by the entity which depends on the Government of Spain, SEPI, has agreed to rescue Air Europa for 475 Million.

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